“The Law of the AIFC”
The book has been authored by Michael Blair QC, who has been chairing the AIFC Legal Advisory Council since its establishment in early 2017. He is also a leading counsel at 3 Verulam Buildings Barristers in London.
The book consists of 4 main parts. The first part outlines the historical background of AIFC Law, the Constitutional basis for its operation, and the process of setting up the special legal regime.
Part 2 sets out the process of establishing the new legal regime, principally by adapting to the AIFC the English common law principles, legislation and precedents just mentioned. This Part contains some observations on the inclusion within a civil law country of a special legal regime based on the common law.
Part 3 describes the structure of the AIFC, including its institutions and governance, and analyzes that structure in legal conceptual terms. The author explains the concept of the Acting Law of the AIFC as a 'three layered' cake, showing a hierarchy, where the top and bottom layers applying in the AIFC are drawn from the mainland.
The part also explains key features of the General Legal Framework and Financial Services Framework as core blocks of the AIFC Law and includes a chapter on the AIFC Court and the International Arbitration Center.
Part 4 highlights additional benefits in the AIFC for a legal person and a natural person whether a person is an AIFC Participant or not.
The book may be useful to legal practitioners, in-house lawyers, academics, students, and a wide audience.
To download the book “The Law of the AIFC”, please follow the LINK.
